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TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS HUA YANG BERHAD (HYB or the Company or Vendor) - Proposed disposal 30% of equity interest in Kajang Heights Development Sdn Bhd to KVC Properties Sdn Bhd by Hua Yang Berhad.

HUA YANG BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description
HUA YANG BERHAD (HYB or the Company or Vendor)
- Proposed disposal 30% of equity interest in Kajang Heights Development Sdn Bhd to KVC Properties Sdn Bhd by Hua Yang Berhad.

The Board of Directors of HYB wishes to announce that HYB had today entered into a conditional Shares Sale Agreement (“SSA”) and Shareholders Agreement (“SA”) with KVC Properties Sdn Bhd ( “KVCP” or “Purchaser”), a company incorporated in Malaysia with its registered office and its business address at Wisma KVC, Lot 3, Jalan P10/12, Kawasan Perusahaan Bangi, 43650 Bandar Baru Bangi, Selangor Darul Ehsan to dispose 900,000 ordinary shares (“the Sale Shares) being 30% of the entire paid up share capital of Kajang Heights Development Sdn Bhd (“KHDSB”) for a total cash consideration of RM21,000,000.00 or at RM23.33 per share (“Disposal Consideration”) (“the Proposed Disposal”). Consequent to the Proposed Disposal, HYB will hold 70% interest in KHDSB.

Details of the Proposed Disposal is in the attached file.

This announcement is dated 30 August 2018.




Please refer attachment below.



Announcement Info

Company Name HUA YANG BERHAD
Stock Name HUAYANG
Date Announced 30 Aug 2018
Category General Announcement for PLC
Reference Number GA1-01082018-00031


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